Investment in Kronos Worldwide, Inc. (Tables)

12 Months Ended

Dec. 31, 2017

Equity Method Investments And Joint Ventures [Abstract]

Changes in Carrying Value of Investment

The change in the carrying value of our investment in Kronos during the past three years is summarized below:

	Years ended December 31,
	2015			2016			2017
	(in millions)
Balance at the beginning of the year	$	237.7		$	140.7		$	120.3
Equity in earnings (losses) of Kronos		(52.8	)		13.2			107.8
Dividends received from Kronos		(21.1	)		(21.1	)		(21.1	)
Equity in Kronos' other comprehensive income (loss):
Marketable securities		0.7			.7			.9
Currency translation		(28.0	)		(5.4	)		17.5
Interest rate swap		(0.7	)		.1			.6
Defined benefit pension plans		4.9			(7.8	)		3.6
Other postretirement benefit plans		-			(.1	)		(.2	)
Other		-			-			0.1
Balance at the end of the year	$	140.7		$	120.3		$	229.5

Selected Financial Information of Kronos Balance Sheet

Selected financial information of Kronos is summarized below:

	December 31,
	2016		2017
	(in millions)
Current assets	$	650.4	$	1,062.5
Property and equipment, net		434.0		506.4
Investment in TiO2 joint venture		78.9		86.5
Other noncurrent assets		16.3		169.0
Total assets	$	1,179.6	$	1,824.4
Current liabilities	$	182.1	$	231.5
Long-term debt		335.4		473.8
Accrued pension and postretirement benefits		234.2		261.9
Other noncurrent liabilities		32.9		102.9
Stockholders' equity		395.0		754.3
Total liabilities and stockholders' equity	$	1,179.6	$	1,824.4

Selected Financial Information of Kronos Income Statement

	Years ended December 31,
	2015			2016		2017
	(in millions)
Net sales	$	1,348.8		$	1,364.3	$	1,729.0
Cost of sales		1,156.5			1,107.3		1,170.1
Income (loss) from operations		(1.1	)		81.1		330.4
Income tax expense (benefit)		142.8			17.9		(48.8	)
Net income (loss)		(173.6	)		43.3		354.5